The Subsidized Budget of the investment project requires the existence of a minimum amount of eligible cost of an investment project, which is determined on the basis of the size of the entity:

• Micro enterprises: €100,000
• Small businesses: €250,000
• Medium-sized enterprises: €500,000
• Large enterprises: €1,000,000
• Social Cooperative Enterprises, Agricultural Cooperatives, Civil Cooperatives, Organizations of Producers, Agricultural Partnerships: €50,000

For the maximum amounts, terms and conditions apply.

Aid beneficiaries are investment entities established or having a branch in Greece at the time of commencement of works on the investment project and which take one of the following forms:

• Commercial company (Legal entities) - excluding sole proprietorships
• Cooperative
• Social cooperative enterprises (SCEs), Agricultural cooperatives (APs), Groups of Producers (GoPs), Organizations of Producers (OoPs), Urban cooperatives, Agricultural Partnerships (APs)
• Companies under establishment or under merger on condition that they will have completed the disclosure procedures before the commencement of works on the investment project
• Joint ventures engaged in commercial activity
• Public and municipal enterprises and their subsidiaries if they meet the conditions of Article 13(1)(fa, fb, fc) of Decision No 45997/18.05.2023 (Government Gazette B 3292/2023).

Investment projects located in the Regional Unit of Mykonos and from the Regional Unit of Thira, in the Municipality of Thira, except for the Municipal District of Thirassia, cannot be financed under this scheme.

Eligible expenses under this scheme include:

• Establishment of a new unit
• Expansion of the capacity of an existing unit
• Diversification of a unit's output in products or services that have never been produced there
• Fundamental change in the entire production process of an existing unit

The Aid rate for eligible expenses is up to 70% of the budget of the Investment Project. For applications submitted in the Just Transition areas (Regions of Western Macedonia, North Aegean, South Aegean – except Mykonos & Thira, with the exception of the Municipal District of Thirassia – and Municipalities of Megalopoli, Gortynia, Tripoli, Oichalia), the Aid may reach 80% of the application budget. The Aid may be in the form of:

• Tax exemption
• Grant
• Leasing Subsidy
• Employment subsidy covering the cost of new job creation, of which the first 3 forms of aid can be provided individually and/or in combination, while the incentive to subsidise the wage costs of new jobs cannot be combined with other incentives.

The application submission period began on Thursday 01/06/2023 and will run through to 29/09/2023 or until the budget per Region is exhausted.

The maximum duration of implementation of investment projects is set at 3 years with the possibility of extension for another two years.

Funding applications are submitted through the Development Law Information System.